DYOR

Boost

Cetus Protocol

Spot

TL;DR
<ul>
 <li>Binance added two new cryptocurrencies to its platform, causing a substantial price rally for the affected ones.</li>
 <li>However, those were listed with seed tags, meaning users should be increasingly cautious when entering the ecosystem.</li>
</ul>
<h2 id="span-data-preserver-spaces-true-a-href-https-cryptopotato-com-wp-content-uploads-2024-11-binance_cb-26-jpg-data-wpel-link-internal-rel-noopener-noreferrer-nofollow-a-span"><a href="https://cryptopotato.com/wp-content/uploads/2024/11/Binance_CB-26.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a></h2>
<h2 id="the-price-boost">The Price Boost</h2>
Binance <a class="editor-rtfLink" href="https://www.binance.com/en/support/announcement/binance-will-list-cow-protocol-cow-and-cetus-protocol-cetus-with-seed-tag-applied-2faa229be2ba4b758bbeb1859f63ba36" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">announced</a> the listing of the altcoins Cow Protocol (COW) and Cetus Protocol (CETUS). The newly introduced trading pairs include COW/USDT and CETUS/USDT, and clients can now start depositing. Withdrawals will be available from November 7.&nbsp;
Trading Bots &amp; Spot Copy Trading services will be enabled on the same day. “For users with running Spot Copy Trading portfolios, pairs can be included by enabling them in the [Personal Pair Preference] section of the Spot Copy Trading settings,” the company clarified.
It is important to note that COW and CETUS were added with seed tags. Tokens in this category represent “innovative projects that may exhibit higher volatility and risks” than other listed assets. That said, users should pay extra attention and conduct proper due diligence before hopping on the bandwagon.
<blockquote>
 “COW and CETUS are relatively new tokens that pose a higher than normal risk and will likely be subject to high price volatility. Users must exercise sufficient risk management and DYOR (do your own research) to fully understand the project before opting to trade the token,” the warning reads.
</blockquote>
Binance listings often have a boosting effect on the affected assets due to their increased liquidity, accessibility, and credibility. The latest case was no exception, with COW and CETUS briefly skyrocketing by over 70% on a 24-hour scale. In the following hours, their prices slightly retraced but remain well in the green zone. 
<figure id="attachment_369405" aria-describedby="caption-attachment-369405" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/11/COW-Price.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="wp-image-369405" src="https://cryptopotato.com/wp-content/uploads/2024/11/COW-Price.png" alt="COW Price" width="571" height="400" srcset="https://cryptopotato.com/wp-content/uploads/2024/11/COW-Price.png 1047w, https://cryptopotato.com/wp-content/uploads/2024/11/COW-Price-300x210.png 300w, https://cryptopotato.com/wp-content/uploads/2024/11/COW-Price-1024x717.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/11/COW-Price-768x538.png 768w, https://cryptopotato.com/wp-content/uploads/2024/11/COW-Price-50x35.png 50w" sizes="(max-width: 571px) 100vw, 571px"></a>
 <figcaption id="caption-attachment-369405" class="wp-caption-text">
 COW Price, Source: CoinGecko
 </figcaption>
</figure>
<h2 id="span-data-preserver-spaces-true-the-previous-example-span">The Previous Example</h2>
Earlier this week, the world’s biggest crypto exchange <a class="editor-rtfLink" href="https://cryptopotato.com/this-meme-coin-pumps-15-following-support-from-binance-details/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">launched</a> PONKE/USDT perpetual contracts. The offering enables up to 75x leverage and allows clients to use other assets (such as BTC) as margin.
PONKE – the affected Solana-based meme coin – saw its valuation soaring by 15% shortly after the disclosure. It pumped to over $0.50 before heading south in the following days. Its price, though, started climbing again on November 6 following the overall resurgence of the entire cryptocurrency sector caused by Donald Trump’s <a href="https://cryptopotato.com/us-presidential-election-2024-results-odds-of-donald-trump-winning-explode-on-polymarket/" data-wpel-link="internal" rel="noopener noreferrer nofollow">likely win</a> in the US presidential elections.&nbsp;&nbsp;
The post <a href="https://cryptopotato.com/these-altcoins-explode-by-over-70-following-listings-on-binance-details/" rel="noopener noreferrer nofollow">These Altcoins Explode by Over 70% Following Listings on Binance: Details</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

These Altcoins Explode by Over 70% Following Listings on Binance: Details

Table of Contents

CryptoPotato_News

Other articles published on Nov 6, 2024

Ethereum Price May Drop to $2000 if Donald Trump Looses US Elections

Will Trump or Harris Propel BTC to New Heights?

SUI Price Surges to New Record High, $3.00 Target Eyed

DeFi bolts higher as America elects Trump

Dogecoin May Be King of Memecoin, But XYZ Could Be the GOAT—Here’s Why

Bitcoin ETFs Record Huge Outflows Ahead of US Presidential Election

Join our free newsletter for daily crypto updates!